Doge warning

[cjnowell72]

 

[blazedawg87]

There is one guy who owns more than 5x more bitcoin than the next leading holder. If he sold his it would cause bitcoin to plummet and likely completely screw a LOT of people. Crypto is a gamble like any other stock, just way more volatile.

 

[Glock 21]

While you do have crypto whales in BTC and DOGE that can heavily manipulate the price action the odds of them completely selling off are slim. If they market sold there entire position it would most likely collapse the price as there wouldn’t be enough buyers to support the sell of which wouldn’t be beneficial for anyone.

 

[rightway1974]

I cant figure out why there is value in a item that does not physically exist. Such as virtual art and crypto currency.

 

[BLUESARMORY]

I cant figure out why there is value in a item that does not physically exist. Such as virtual art and crypto currency.

Same.

 

[blazedawg87]

I cant figure out why there is value in a item that does not physically exist. Such as virtual art and crypto currency.

You value fiat currency and its just a pretty piece of paper with no real monetary value. For that matter you can buy anything with a credit card and pay off said card without ever touching physical money. IE: crypto.

 

[palmettomoon]

Cash can be used everywhere, crypto currency can be used almost nowhere (compared to cash).

Wrong. Covid taught us that businesses are allowed to refuse cash payments, requiring instead CCs.

 

[blazedawg87]

Credit cards and crypto currency are nothing alike.

A credit card is a tangible object- you can hold it, flip it, put it in a wallet, insert it into a reader. Not so with crypto currency.

For any one retail establishment that will accept crypto currency there are hundreds of thousands that will not accept it, but will accept a credit card.

A credit card is backed by a financial institution, crypto currency is not.

A credit card in the end is backed by cash, paper money, whether the actual paper bill or an electronic transaction that ultimately is backed by cash.

Cash can be used everywhere, crypto currency can be used almost nowhere (compared to cash).

The life of a human can be backed by cash, for example, a life saving medical procedure paid for in cash or credit card backed by cash, whereas hospitals and insurance companies are not accepting crypto currency.

I used to find it shocking anyone would buy into vaporware, IE crypto currency, but ultimately mankind has proven time and time again nothing is shocking. A couple of my mates were gung ho on crypto until they lost their investments. I told them to go all in - if you are investing in crypto currency go ahead and dump your physical ammo, just yell "BANG" when you squeeze the trigger. And fill that cup up with a tall glass of air, save the straw for someone who sips an actual liquid.

So that piece of plastic is currency? Just because i can hold a card in my hand doesnt equate to holding something of value because it can be shut down at any moment by the company and i have no say whatsoever. Exactly what does that financial institution back it with? More fiat currency. The only people against crypto are the government and other powerful people because its all P2P transaction that arent tracible (aka taxable) and dont require a banking system because its all in your digital wallet. There is a set amount of crypto (most) and once that amount is mined there is no more so its not inflatable like your paper money because you cant print more of it. Lets all go pull every penny we have from the banking system so we can hold it and see what happens. Well you cant because no bank in this country has enough "real" money to pay everyone of its customers out.

 

[hikingthehills]

I cant figure out why there is value in a item that does not physically exist. Such as virtual art and crypto currency.

The only thing making a dollar valuable is our minds. Just ask Venezuela.

 

[Lazarus]

I think its RobinHood that holds the 28%